UAE-based Masdar has signed a memorandum of understanding (MoU) with Korea Electric Power Corporation (Kepco) to explore opportunities in offshore wind energy and other clean energy sectors.
The MoU was signed at a ceremony in South Korea by Mohamed Jameel al-Ramahi, CEO, Masdar and Seung-il Cheong, president and CEO of Kepco.
The two companies will explore the potential to collaborate in offshore wind projects, including but not limited to Kepco’s existing offshore wind projects.
The two firms will also evaluate opportunities in green hydrogen production, battery storage technology and energy trading activities.
Kepco is the largest utility in South Korea, responsible for 93 per cent of the country’s power generation and is involved with a number of major offshore wind projects in South Korea such as the 8.2GW Shinan project.
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